Spices Price: Turmeric-As demand picks up, turmeric futures up 1.12%

Turmeric prices rose by 1.12 % to Rs 9,934 per quintal in futures market today after participant’s built-up positions, supported by pick-up in demand at the spot market.

Turmeric for delivery in April rose by Rs 110, or 1.12 percent to Rs 9,934 per quintal with an open interest of 22,755 lots at the National Commodity and Derivatives Exchange. The spice for delivery in May moved up by Rs 104, or 1.04% to Rs 10,090 per quintal in 4,685 lots.

Widening of positions by speculators driven by rising demand in the spot market amid tight supplies from producing belts mainly led to the rise in turmeric prices at the futures trade, said marketmen.

Source: http://www.business-standard.com/